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Crude oil contributed N14.56tn to Nigeria’s exports in Q2 – Report

In the quarter under review, exports accounted for 60.89 per cent of the total trade, amounting to N19.42tn.

This marks a 1.31 per cent over the N19.17tn recorded in the first quarter of the year and a 201.76 per cent increase from the N6.44tn registered in the second quarter of the previous year.

It added that non-crude oil exports, valued at N4.86tn, represented 25.02 per cent of the total export trade, a contribution though still overshadowed by crude oil.

Of this amount, non-oil products contributed N1.94tn, accounting for 10.01 per cent of total exports.

The PUNCH reports that the total value of manufactured goods imported into Nigeria hit N16tn between 2023 and 2024.

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